Property Eyed as Travis County Court Space in Downtown Austin to be Sold or Leased Out
A commercial block located at 308 Guadalupe St. that was previously acquired in the hopes of providing additional civil court space is now up for bidding, as Travis County Commissioners decided last week.
The entire block, costing $22 million when acquired in 2010, is currently being used as a parking lot. After Travis County's courthouse construction bond worth $287 million failed in November 2015, development plans screeched to a halt. Local sentiment feels that the block is more valuable as a private development than a courthouse, and now plans to privately develop the property are being considered.
While details on how much the county stands to profit from its potential sale or lease are not available, it is believed that the county will receive a significant amount for the property well above its original purchase price.
If you would like to stay updated with this developing news or learn more about the latest in Southwest Austin, do check out our blog. For more information about this developing news, you may access the original Community Impact article from which this post was based here.